Actuaries earn professional status, in part, by passing a series of examinations administered by the Society of Actuaries or the Casualty Actuarial Society. A student should begin taking the examinations while still an undergraduate. The sophomore or junior year is the optimal time to take the first examination, Calculus and Linear Algebra. The first two examinations should be passed before college graduation, else employment opportunities will be greatly diminished. To help decide if one is suited to an actuarial career, a summer internship with an insurance company or consulting firm may be helpful. Summer openings are limited and are often filled by January or February; one's chances of being accepted are greatly improved by having passed the first examination.
Some of the topics of the earlier examinations along with recommended supporting Duke courses are:
Calculus and linear algebra MTH 31, 32, 103, 104Probability and statistics MTH 135, 136
Applied statistical methods MTH 217
Operations research MTH 126, 216
Numerical methods MTH 160, 221
Additional information about the examinations can be obtained from the Director of Undergraduate Studies.
Courses in accounting, finance, economics, and computer science are also helpful preparation for a career in actuarial science.
The curriculum in Mathematical Sciences at the University of North Carolina at Chapel Hill includes an Actuarial Science option through which students may take specialized courses in actuarial mathematics during the spring semester. Under a reciprocal agreement between the two universities, students at Duke may enroll concurrently in these courses offered by UNC-Chapel Hill (see pages 75-76 of the Bulletin of Duke University, 1996-97: Undergraduate Instruction). Note, however, that prior approval from the Director of Undergraduate Studies must be sought for such courses to count toward mathematics major or minor credit.
Inquiries about the courses at UNC or about actuarial science in general may be made to Charles W. Dunn, a former Duke graduate and Fellow of the Society of Actuaries. His office is in the First Federal Building at Five Points in downtown Durham (688-8913).